Getting a loan as a student isn’t always easy, especially when you need quick help without a credit history. This blog brings you 20 student-friendly instant personal loan apps in India that offer fast approvals, flexible repayment, and minimal paperwork. Let's jump right into it.

Best Loan Apps for Students in India

Which is the Best Loan App for Students?

1. Freo

   Freo works more like a digital credit card than a one-time personal loan. It gives you a credit line that you can dip into whenever you need money. So instead of borrowing a lump sum and paying interest from day one, you borrow only what you need, when you need it. This is super helpful for students who may not have consistent expenses but need to cover surprise costs like project submissions, laptop repairs, or booking tickets for an internship fair.

   Once your credit line is approved, it stays active in the background. You can repay in flexible EMIs between 2 to 36 months. Everything from approval to disbursal happens within minutes on the app, and there is no paperwork involved if your KYC is already in place.

   Best For:

   • Final-year B.Tech/MBA students with internship stipends (₹30K+ monthly)
   • Students attending paid competitive exam coaching (CAT, GATE, UPSC)
   • College fest organizers needing recurring budget throughout the semester
   • Students wanting credit card flexibility for Amazon/Flipkart purchases

   Key Features:

   • Credit limit up to ₹5 Lakhs
   • Flexible repayment from 2 to 36 months
   • No interest charged until you use the money
   • Instant approval with basic documents
   • Reusable credit line for future needs
   • 100% digital, no hidden charges
   Get instant approval and quick disbursement through Freo. Apply for Student Loan Now

2. mPokket

   mPokket is built with college students in mind. It offers quick, no-hassle loans as low as ₹500 and up to ₹50,000 with just your student ID and Aadhaar. The app is known for its super-fast 2-minute approval time and a completely paperless process. There’s no need to show income proof or wait for bank approvals.

   Whether it’s rent, textbooks, last-minute trips, or medical emergencies, mPokket is designed to be your pocket money buddy. The interest rates are on the higher side, but the repayment periods are short, making it suitable for small, urgent needs.

   Best For:

   Students with no income proof, part-time workers, and gig workers needing fast funds for daily or emergency expenses.

   Key Features:

   • ₹500 to ₹50,000 loans with instant approvals
   • Tenure from 61 to 120 days
   • Interest from 1% to 6% per month
   • No income proof required
   • In-app wallet or bank transfer
   • Repayment history can improve your limit

3. StuCred

   StuCred is one of the only apps in India offering completely interest-free loans to students. You can borrow up to ₹15,000 and repay without worrying about added interest. A small service fee is deducted from the borrowed amount, making it a great zero-pressure option for first-time borrowers.

   It’s built for students without a credit score or salary, so you don’t need to worry about complex checks or documents. The app uses a 5-step verification process that’s done in minutes. It also rewards you for referring friends, allowing you to earn money just by sharing the app.

   Best For:

   Students without credit history or job, those seeking completely interest-free borrowing, or anyone wanting a low-risk start to building their credit profile.

   Key Features:

   • Interest-free loans from ₹1,000 to ₹15,000
   • Minimal service fees, no interest added
   • Open to all Indian college students
   • Safe, encrypted transactions
   • 24/7 access from anywhere in India
   • Referral rewards up to ₹5,000/month

4. Pocketly

   Pocketly makes it easy to borrow small amounts in just two minutes. If you suddenly need money for a project, trip, or unexpected cost, this app gets the job done fast. It's also transparent, so you know exactly what you’re paying.

   Best For:

   Students or part-time earners who need a quick cash fix, prefer knowing their costs upfront, and want to avoid long borrowing processes.

   Key Features:

   • Loan amounts between ₹500 to ₹10,000
   • Repayment terms from 61 to 90 days
   • Interest between 1% to 3% per month
   • Transparent fee structure
   • Easy application with minimal documents

5. CASHe

   CASHe takes a unique approach to lending by analysing your digital footprint instead of just your credit score. This makes it ideal for students who don’t have traditional credit history but are financially responsible. The app uses its Social Loan Quotient (SLQ) algorithm to decide your creditworthiness.

   It offers higher loan amounts and flexible tenures compared to other student-focused apps. You also get a 5-day grace period after every EMI, which gives you breathing room in case your stipend or allowance is delayed.

   Best For:

   Senior students or interns earning ₹40,000+ monthly who want to borrow higher amounts without needing a traditional credit score.

   Key Features:

   • Loans from ₹45,000 to ₹3,00,000
   • Interest starts from 2.79% per month
   • Tenures of 9, 12, and 18 months
   • 5-day interest-free grace after each EMI
   • Digital credit check using SLQ
   • Fast, paperless approvals

6. KreditBee

   KreditBee is a digital lending platform that gives out personal loans even to people with no or low credit scores. It works with multiple NBFC partners, which increases your chances of getting approved. It’s also one of the few platforms that offers loans up to ₹10 Lakhs, making it ideal for big-ticket needs.

   The app is beginner-friendly and offers flexible tenures, top-up options, and a fast-track disbursal process. You can also take multiple loans over time once you build your repayment record.

   Best For:

   Students entering the workforce, freelancers, or anyone looking to take bigger loans without a perfect credit score.

   Key Features:

   • Loan range from ₹6,000 to ₹10,00,000
   • Interest between 12% and 28% annually
   • Tenure from 6 to 60 months
   • Easy top-ups and re-borrowing options
   • Designed for both salaried and self-employed users

7. PaySense

   PaySense offers short-term loans with a focus on fast approvals and low monthly interest. The app is easy to use, with a clear process that requires minimal documentation. You get to choose your EMI plan and can even close your loan early with a small prepayment fee.

   It’s well-suited for students who have started earning through internships or part-time jobs and want low-interest options without any confusion around fees or eligibility.

   Best For:

   Students or recent graduates with a stable income who need short-term financial support and want a trustworthy, clear-lending platform.

   Key Features:

   • Loan amounts from ₹5,000 to ₹5 Lakhs
   • Interest rates from 1.4% to 2.3% per month
   • Tenure from 3 to 60 months
   • 2-hour approval window
   • 4% foreclosure charges if you repay early

8. Olyv (SmartCoin)

   Olyv acts as a bridge between you and multiple lending partners. It’s especially helpful if you’re new to credit or have been denied loans elsewhere. The platform is fully digital and doesn’t require piles of paperwork.

   It offers small to medium-sized loans with quick KYC, a fully paperless process, and transparent EMI deductions. You also get the benefit of eMandate for hassle-free EMI payments.

   Best For:

   Students and first-time borrowers are looking for a smooth, completely digital process and fast access to small loans.

   Key Features:

   • Loans between ₹500 to ₹5,00,000
   • Interest starting from 1.5% per month
   • Tenure from 2 to 24 months
   • Aadhaar and PAN-based KYC
   • Instant disbursal into your bank account

9. Fibe (EarlySalary)

   Fibe, earlier known as EarlySalary, is great for salaried students or recent graduates. It lets you borrow money for things like travel, education, or emergencies without long waits or extra penalties.

   Best For:

   Students with ₹20,000+ monthly income looking for flexible loan options and zero-penalty early repayment.

   Key Features:

   • Loans up to ₹10 Lakhs
   • Interest from 18% per annum (on reducing balance)
   • Tenure between 6 to 36 months
   • No charges for early closure
   • Instant approval and payout

10. Tata Capital

    Tata Capital is a reliable financial institution that offers high-value personal loans with competitive interest rates. It’s perfect if you need a long repayment period or a larger loan amount for something like higher studies, rent deposit, or a laptop.

    With a simple digital application, minimal paperwork, and the backing of a well-known brand, this option works well for students or freelancers with 2+ years of work experience who want stability and low-risk borrowing.

    Best For:

    Students and professionals looking for big-ticket loans with the trust of an established brand and a long repayment runway.

    Key Features:

    • Loans from ₹40,000 to ₹35 Lakhs
    • Interest starts at 10.99% per annum
    • Tenure up to 6 years
    • Transparent fees and zero hidden charges
    • Pre-approved offers for returning customers

11. SlicePay

    SlicePay brings a modern twist to credit by turning your UPI into a direct spending tool. Instead of transferring loan amounts to your bank account, SlicePay gives you a digital credit line that works directly with UPI apps. This means you can pay for groceries, online shopping, or food delivery straight from your credit limit, just like using a debit card, but with credit.

    You get the flexibility to pay the full amount later or split it into EMIs. Since everything happens digitally, the onboarding is quick and paperless. It feels like a credit card without actually owning one.

    Best For:

    Tech-savvy students who use UPI daily and want a flexible credit option without transferring funds back and forth. Great for managing daily purchases and routine bills with more freedom.

    Key Features:

    • Credit limit up to ₹5 Lakhs
    • Direct UPI spending from your credit line
    • Flexible repayment—pay later or convert to EMIs
    • Completely paperless process
    • Instant credit check and score visibility
    • No charges for prepayment

12. CashBean

    CashBean is built for speed. If you ever find yourself in an urgent cash crunch, maybe for a medical emergency, rent, or exam fees, this app disburses small loans in just 5 minutes. The application process is simple and doesn’t require a credit score, which makes it beginner-friendly.

    Although the interest rates are on the higher side, the short-term nature of the loans helps manage costs if you repay quickly. It’s ideal for first-time borrowers who need emergency help and aren’t eligible for traditional loans yet.

    Best For:

    Students or first-time borrowers looking for very fast access to emergency cash. Best for those okay with higher interest in exchange for speed and simplicity.

    Key Features:

    • Personal loans from ₹1,500 to ₹1,00,000
    • Tenure between 3 to 6 months
    • Interest from 25.55% per annum
    • Disbursal in just 5 minutes
    • No prior credit history required
    • No penalties on early repayment
    • Basic documentation only

13. Sahukar

    Sahukar is a student-first lending platform that understands the small but urgent needs students often face. Whether it’s a quick recharge, project printing, or running low on pocket money, Sahukar offers instant loans starting from as little as ₹100.

    You don’t need to submit complex documents. A quick ID verification is enough to get started. Sahukar also adjusts your credit limit based on your repayment behaviour, rewarding responsible usage with higher future limits.

    Best For:

    Full-time college students needing small loans for everyday expenses. Ideal for those who want fast approvals without worrying about credit scores or formal employment.

    Key Features:

    • Instant loans from ₹100 to ₹5,000
    • Tenure options of 1, 2, or 3 months
    • Fast approvals
    • Minimal documentation required
    • Student-centric approval criteria
    • Instant credit to your bank or wallet

14. BadaBro

    BadaBro is another student-focused app that makes credit simple, flexible, and always available. It lets you borrow small amounts instantly and repay over 30, 60, or 90 days. The app keeps things student-friendly with 24/7 access, flexible tenures, and easy approvals.

    One standout feature is its dynamic credit limit. If you repay on time, your borrowing capacity goes up, helping you build a positive financial track record while you study.

    Best For:

    Students who want constant access to a credit line for everyday needs and are willing to repay on time to unlock higher limits gradually.

    Key Features:

    • Loans from ₹1,000 to ₹10,000
    • Interest between 1% to 6% monthly
    • Repayment tenure of 30, 60, or 90 days
    • Processing fee starting at ₹34 plus GST
    • Available 24/7
    • Credit limit increases with timely repayments
    • Support via email for quick help

15. Buddy Loan

    Buddy Loan works differently than most apps. It acts as a loan aggregator, which means it connects you with multiple lenders and finds the best possible offer based on your profile. You don’t need to search around or apply on several apps. Buddy Loan does the matchmaking for you.

    This increases your chances of approval and helps you compare interest rates and tenures easily. It’s great for those who want to explore multiple loan options with one application.

    Best For:

    Students or young professionals who want to explore multiple lenders at once and find the best deal without jumping through too many hoops.

    Key Features:

    • Loan amounts from ₹10,000 to ₹15 Lakhs
    • Interest starting from 11.99% per annum
    • Tenure from 12 to 60 months
    • Quick approval within 48 hours
    • No hidden or prepayment charges
    • Minimal documents needed
    • Safe, transparent application

16. LazyPay

    LazyPay is more than a loan app. It’s a credit super-app that offers both “pay later” services and personal loans. If you’re low on cash mid-month, you can use LazyPay’s pay-later feature to shop or pay bills and clear the dues within 15 days without any interest. For bigger purchases or urgent needs, you can switch to a personal loan with flexible EMI options.

    This two-in-one flexibility gives you more control over how and when you want to repay. The interface is smooth, approvals are quick, and the usage is completely digital.

    Best For:

    Students who want flexibility. Buy now and pay later without interest or take out a proper loan when needed. It’s great for both day-to-day needs and larger expenses like gadgets or course fees.

    Key Features:

    • Personal loans up to ₹1 Lakh
    • Interest rates from 18% per annum
    • Pay-later option with 15-day interest-free period
    • EMI plans for larger purchases
    • Processing fee of 2% on loans
    • Instant disbursal and approval

17. Bajaj Finserv Insta Personal Loan

    If you're already a Bajaj Finance customer or part of their ecosystem, their Insta Personal Loan is a great pick. It offers pre-approved limits with minimal paperwork, and the disbursal can happen in as little as 30 minutes. This is especially helpful when you need a big loan quickly for tuition, travel, or emergencies.

    You get a wide range of tenure options and can borrow large amounts based on eligibility. The app is clean, the process is fully digital, and there are no hidden surprises.

    Best For:

    Students who are already linked with Bajaj or have a co-signer/guardian with an existing account. Also great for those who need high-value loans with quick disbursal and flexibility.

    Key Features:

    • Loan amounts from ₹40,000 to ₹15.5 Lakhs
    • Interest rates from 16% to 30% per annum
    • Tenure from 12 to 96 months
    • 30-minute disbursal for pre-approved users
    • Minimal documentation if you’re an existing customer
    • Transparent fee structure

18. Moneyview

    Moneyview is perfect for students who don’t meet income requirements themselves but have a guardian who does. It enables indirect borrowing through a family member or co-signer while keeping the process fast and simple.

    Moneyview offers a wide range of loan amounts at competitive interest rates. The disbursal usually happens within 24 hours of approval, and the platform works well for education expenses, devices, or course-related investments.

    Best For:

    Students who can apply with a working guardian or have a monthly income of ₹25,000 or more. Suitable for funding education needs or personal expenses with competitive terms.

    Key Features:

    • Loans from ₹5,000 to ₹10 Lakhs
    • Interest starts at 14% per annum
    • Processing fee starting from 2%
    • 24-hour disbursal
    • Collateral-free unsecured loans
    • Basic documentation requirements
    • Penal charge of 24% per annum on overdue EMI

19. Kissht

    Kissht focuses on simplicity. There’s zero paperwork involved and the loan process is entirely online. Whether you need funds for medical expenses, travel, education, or just monthly bills, Kissht gives you a multi-purpose loan with competitive interest rates.

    You can borrow as little as ₹5,000 or go up to ₹6 Lakhs, depending on your eligibility. The app is fast, safe, and keeps things transparent with no hidden charges.

    Best For:

    Students, freelancers, or self-employed professionals who want a fast, digital, no-hassle loan process with no hidden clauses.

    Key Features:

    • Loans from ₹5,000 to ₹6 Lakhs
    • Interest rates between 6% and 36% (APR up to 57%)
    • Tenure from 3 to 60 months
    • Processing fee around ₹3,000 or 3% of loan
    • Zero paperwork
    • Instant approval and disbursal

20. Finnable

    Finnable is a solid choice for students who’ve just started earning. It offers large personal loans and has a fully digital onboarding experience. With a transparent fee structure and reducing balance interest, your EMI gets smaller with every payment.

    If you’ve been working for 6 months or more and earn at least ₹15,000 to ₹20,000 monthly, Finnable lets you access bigger loans without stepping into a bank or filling out complex paperwork.

    Best For:

    Students who’ve started working full-time or part-time and need high-value loans with longer tenures. Great for managing big expenses while keeping monthly EMIs reasonable.

    Key Features:

    • Loans from ₹25,000 to ₹10 Lakhs
    • Interest from 16% to 35.99% per annum
    • Tenure from 6 to 60 months
    • 100% digital application
    • Pre-closure charges between 3% to 6%
    • Lower EMIs due to reducing balance interest

What to Check Before Applying for a Student Loan App

If you're thinking of using a student loan app, take a moment to review these important points. They can save you from hidden charges, misuse of your data, and loan traps.

1. RBI-Registered Lending Partner

   Always make sure the app is linked to an NBFC or bank that is registered with the Reserve Bank of India. This confirms that the app follows proper legal rules for interest rates, repayment, and data safety. You can find the lender’s registration number on the official RBI website. If you don’t see a valid partner or number, skip the app.

2. Clear Terms and No Hidden Fees

   The app should clearly show you the interest rate (APR), processing fees, penalties, and repayment terms before you apply. Look for a document called the “Key Fact Statement” or KFS. If any charges feel unclear or you can’t find this document, avoid using the app.

3. Interest Rates and Repayment Flexibility

   Compare the rates of a few apps before choosing one. Student loan apps often show monthly interest, so convert that into yearly APR to compare better. Choose an app that lets you repay in a way that suits your financial situation, especially if you're relying on pocket money, part-time jobs, or internships.

4. App Permissions and Data Privacy

   Watch out for apps that ask for access to your contacts, call logs, photos, or social media. That’s a red flag. Legitimate apps will only ask for basic access like your camera (to scan KYC documents) or storage. If an app is demanding more than that, it’s best not to use it.

5. Real Reviews and Customer Support

   Before you install the app, read reviews on the Play Store or App Store. Focus on recent reviews that talk about repayment issues, customer service, or bugs. Also check if the app offers real support via phone, email, or live chat. If the support seems poor or unresponsive, it’s better to look for alternatives.

6. Documents You’ll Need

   Most student loan apps only ask for simple documents like your student ID, Aadhaar card, and PAN card. If an app asks for salary slips or guarantors unnecessarily, it may not be the right fit for students. Go for apps designed specifically with students in mind.

Benefits of Using Student Loan Apps

1. Apply Anytime, Anywhere

   No need to visit a bank or wait in line. You can apply for a loan right from your phone, whether you're in your hostel, at home, or on the go. The entire process is online, which saves time and effort.

2. Fast Approvals and Quick Disbursement

   Student loan apps are designed to move fast. Once you submit your application, you can get an approval decision in just a few hours or days. The money is often transferred quickly, so you're not stuck waiting when fees or expenses are due.

3. Simple Paperwork

   You don’t need a pile of documents to get started. Most apps just ask for basic details like your Aadhaar card, PAN, or student ID. It’s a lot easier compared to traditional banks.

4. Flexible Repayment Options

   You can choose how much you borrow, how long you want to repay, and what kind of monthly payment fits your budget. This flexibility helps you stay in control of your finances while managing your studies.

5. Build Your Credit Early

   Using a student loan responsibly can help you start building a credit history. Timely payments show that you’re reliable, which makes it easier to qualify for future loans or credit cards.

6. Designed for Students with Low or No Income

   Many student loan apps understand that you may not have a steady income or any credit history yet. Apps like CASHe note that they are made to support students in exactly this situation.

7. Clear Terms and Real-Time Updates

   There are no hidden surprises. These apps usually show you the interest rate, repayment schedule, and charges upfront. You can also track your application or EMI status in real time.

8. No Collateral Required

   Most student loan apps offer unsecured loans. That means you don’t have to provide any assets like gold or property to get approved.

9. Smart In-App Features

   Many apps give you tools to stay organised. You can check your balance, see upcoming payments, and get reminders so you never miss a due date. It’s all in one place and easy to use.

Closing Thoughts

Student loan apps can be a real help when you need quick money for fees, gadgets, travel, or emergencies. Just make sure you pick apps that are transparent, linked to RBI-registered lenders, and don’t ask for unnecessary permissions. Borrow only what you can repay, pay EMIs on time, and you will not just solve today’s problem but also build a better credit history for the future.

FAQs

1. Which app is safe for student loans?

   Freo is one of the safer choices when it comes to student and personal loans. It works with regulated NBFC partners and follows all the digital lending rules set in India.

2. Can an 18-year-old apply for a loan?

   Yes, you can. If you're at least 18 years old and meet the eligibility conditions like income or credit history, you can apply for a loan through apps like Freo.

3. What is the interest rate on student loan apps?

   Interest rates aren't the same across all apps. They change depending on the loan amount, repayment duration, your profile, and sometimes even the app's internal guidelines.

4. Can I get a student personal loan without a PAN card?

   No, you can't. Most apps ask for a PAN card to verify your identity and check your credit background. It's a basic requirement for any personal loan in India.

5. What documents are needed to apply for a student loan?

   Here's a list of what you'll usually need:

   • PAN card
   • Aadhaar card or another valid ID proof
   • Proof of address
   • Proof of income (like salary slips, bank statements, or stipend documents)
   • Admission proof or your fee structure (for education-specific loans)

6. Can students get personal loans from Freo?

   Yes, but only if you have a steady source of income. If you don't, someone close to you like a parent, sibling, or friend who qualifies can take the loan in their name and use it to help with your education expenses.

7. What if I don't have a source of income? Can I still apply?

   You can't get a personal loan directly through Freo without income. But a family member or trusted friend who meets the requirements can apply for you.

8. Is a personal loan the same as an education loan?

   No, they serve different purposes:

   • An education loan is built specifically for your studies. It usually has lower interest rates, longer repayment periods, and needs admission proof.
   • A personal loan can be used for anything, including education, but often comes with higher rates and shorter tenures.

9. Do Freo personal loans offer flexible repayment options?

   Yes, Freo offers repayment terms that range from 2 months up to 5 years. The options depend on how much you borrow and if you meet their eligibility terms.

10. How fast is the loan processing with Freo?

    It's usually quick. If all your documents are in place and you qualify, the loan may get processed within a few hours or up to 2 working days.

11. How many photocopies of my documents should I submit?

    For online applications, you just need to upload one clear scanned copy or photo of each document. If the lender asks for physical copies later, they'll let you know how many, but usually one set is enough.